E-Commerce China Dangdang (NYSE:DANG) will launch Weipinhui, a "flash sales channel," on May 7, featuring a limited selection of "deal-of-the-day" products.
Dangdang says that Weipinhui will tailor its offerings to its current customer base of people with higher educations and greater disposable incomes. Weipinhui will start out focusing on apparel, but may soon expand into books, home, and lifestyle products.The daily deal products will be updated at 10 a.m. and "customers will enjoy deep discounts if they finish payment within 20 minutes after placing order and on a first-come-first-serve basis."
DangDang's CEO and Executive Chairwoman Peggy Yu said in the company's press release, "The Flash Sales Channel is our latest initiative in further enhancing Dangdang's open platform to attract more merchants, especially well-known brands, to our marketplace."
Last month, Alibaba, China's leading e-commerce giant, expanded its daily deal site, Juhuasuan, to Hong Kong and Taiwan.
Fool contributor Kevin Chen has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.